If Joe Biden and Rep. Josh Harder are elected and two California ballot propositions (Propositions 15 and 19) are approved, taxpayers can expect an all-out frontal assault upon their wallets for the next few years.
On the national level, Biden and Harder have pledged to remove President Trump’s tax cuts, which have saved the average family of four about $2,000 per year and given America one of the world’s best economies.
In their place, Biden and Harder have backed a $4 trillion tax increase over the next decade. According to the August 25 Forbes Magazine, Biden also wants to even end traditional 401 (k) retirement savings tax benefits. These two politicians are very bad for the middle class.
In California, the Gov. Gavin Newsom-backed Proposition 15 would add to the state’s woes by imposing higher property taxes on commercial and industrial properties in California of up to $12 billion annually.
That cost would be imposed on every Costco, WalMart, gas station and shopping mall in California as well as the 80 percent of small businesses that lease their property. And people need to remember: Businesses don’t pay taxes. Consumers pay those taxes.
The Democrats and their teacher union buddies view anyone with a home as rich and want to take us back to the 1970’s when thousands of fixed-income, middle-class people were losing their homes because of soaring property taxes before Proposition 13.
Democrats, like former San Francisco Assemblyman Tom Ammiano, have said that Proposition 15 is only the first step to decimate Proposition 13. Next, they’re coming after higher taxes on people’s homes.
In addition to supporting President Trump and Ted Howze for Congress, voters would be wise to support Jim Ridenour for the State Senate and reject Propositions 15 and 19.
Stephen Wampler, Tracy